Drum Pump Market Assessment and Key Insights Analysed from 2022 to 2032
The global drum pump market is expected to be worth US$ 503.6 million in 2022. Drum Pump sales are expected to grow at a CAGR of 6.2 percent between 2022 and 2032, totaling US$ 921.0 million. Between 2016 and 2021, the demand for Drum Pumps increased at a 5.7 percent value CAGR.
Industrialization is increasing in both developed and developing countries, and as a result, demand for oil and lubricants is increasing. Oil, lubricants, and other liquids are stored in tanks, drums, and barrels, among other containers.
A drum pump is a portable, small, and lightweight solution for emptying liquids from tanks, drums, and barrels, among other things. Drum pumps are ideal for transferring diesel oil, gasoline, engine oil, vegetable oil, milk, hydraulic oil, acid, alcohol, and other lubricative and corrosive liquids.
Many industrial fluids are very heavy once filled into a drum or barrel. When the liquid is outside the drum or barrel, the manufacturer should use a drum pump instead of tipping to get the liquid. Various industries generate a high demand for drum pumps, which is expected to increase during the forecast period.
The drum pump is the best solution for emptying liquid from tanks because it reduces the possibility of spillage or waste, as well as the possibility of injury or accident to the operator. Because of its numerous advantages, the drum pump is the preferred method of removing liquid.
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Drum Pump – Market Dynamics
Growth in demand of the drum pump market is expected to raise muscularly for numerous reasons. One of the significant factors contributes towards the growth of the drum pump is growing demand by the various industry including oil, chemical, milk, and lubricant etc. Industries import and export the liquids in the big container rather than the small container for saving the shipping and transportation cost.
For dispensing the liquid from big container industries prefer drum pump, so it drives the drum pump market positively. It allows speedy transfer of liquid without spillage it is another factor which contribute to the growth of the drum pump market. Moreover, drum pump saves considerable time, resources & manpower for dispensing the liquid and allow flow control at outlet through the ball valve, they also participate in the growth of the drum pump market.
The demand of the drum pump market is expected to witness an above average growth due to increase in the demand for drum pump by various industry.
Drum Pump – Market Segmentation
Globally, the drum pump market can be segmented on the basis of product type, by material and by application. On the basis of product type drum pump market is segmented into Electric driven, Hydraulic, Rotary / Manual pump, Pneumatic, and others. On the basis of material type drum pump market is segmented into plastic and metal. The plastic segment is sub-segmented into Chlorinated Polyvinyl Chloride (CPC), Polypropylene (PP), Polyvinylidene Fluoride (PVDF) and others.
The metal segment is sub-segmented into Stainless steel, cast iron, aluminium, and others. On the basis of application type drum pump market is segmented into Petroleum industry, Chemical plants, Food processing plants, Manufacturing plants, Automotive industry, wastewater treatment, laboratories etc.
Drum Pump Market – Regional Outlook
The drum pump market can be segmented into North America, Latin America, Europe, Middle East, Africa and Asia Pacific. North America is anticipated to be the largest market for the drum pump market, primarily driven by manufacturer preference towards drum pump which acts as cost-effective and efficient dispenser tools for variety of liquid. Latin America also has a good presence in the drum pump market.
Furthermore, Eastern Europe followed by the Middle East is anticipated to be the second largest marketfor the drum pump. The recent development in the drum pump market has shifted its production base to the east, especially in Asia, the emerging players from China, India and Middle East have started taking the market share in the drum pump industry.
Drum Pump Market – Key Players
Few of the major players identified across the globe in the drum pump market are Fluidyne Instruments Pvt. Ltd., FLUX, Kecol Pumping Systems Ltd,Iwaki Pumps Australia Pty Ltd, JESSBERGER GnbH, Finish Thompson Inc., Lutz Pumps, Inc, NZ Pump Company Inc, Graco etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
Market Segments Market Dynamics Market Size Current Trends/Issues/Challenges Competition & Companies involved Value Chain
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Key Segments Covered in the Drum Pump Industry Analysis
Drum Pump Market by Product Type:
Electric Driven Drum Pumps Hydraulic Drum Pumps Rotary / Manual Drum Pumps Pneumatic Drum Pumps Other Drum Pump Types
Drum Pump Market by Material Type:
Plastic Drum Pumps Chlorinated Polyvinyl Chloride (CPC) Polypropylene (PP) Polyvinylidene Fluoride (PVDF) Others Metal Drum Pumps Stainless Steel Cast Iron Aluminium Others
Drum Pump Market by Application:
Drum Pumps for the Petroleum Industry Drum Pumps for Chemical Plants Drum Pumps for Food Processing Plants Drum Pumps for Manufacturing Plants Drum Pumps for Automotive Industry Drum Pumps for Wastewater Treatment Drum Pumps for Laboratories
Drum Pump Market by Region:
North America Drum Pump Market Latin America Drum Pump Market Europe Drum Pump Market Asia Pacific Drum Pump Market The Middle East & Africa Drum Pump Market